Tuesday, October 12, 2004

OTTAWA - The federal Liberals are poised to announce they're sitting on an embarrassment of riches - a whopping budget surplus of at least $8 billion, four times more than they predicted.
Senior government sources told The Canadian Press that Ottawa's surplus - which was projected to come in at only $1.9 billion for the fiscal year that ended March 31 - will instead top $8 billion.

President Clinton announces another record budget surplus
From CNN White House Correspondent Kelly Wallace

September 27, 2000
Web posted at: 4:51 p.m. EDT (2051 GMT)

WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.

"Eight years ago, our future was at risk," Clinton said Wednesday morning. "Economic growth was low, unemployment was high, interest rates were high, the federal debt had quadrupled in the previous 12 years. When Vice President Gore and I took office, the budget deficit was $290 billion, and it was projected this year the budget deficit would be $455 billion."

Here's some more interesting information on the United States v. Canada economic comparison, courtesy of this site: